Fraser Allport, a Fiduciary and Certified Estate Planner ™ : 'Are Seniors prepared for Long Term Care expenses ?

Fraser Allport, a Fiduciary and Certified Estate Planner ™ , publishes : “ Are Seniors prepared for Long Term Care expenses ? ”

DAYTONA BEACH SHORES, FL, UNITED STATES, October 13, 2025 /EINPresswire.com/ -- Fraser Allport, Accredited Investment Fiduciary^® and Founder of The Total Advisor, LLC, issues a Special Report addressing the growing crisis in Elder Care as America’s Baby Boomers age into retirement and Longevity. The crisis is that there will not be enough young healthy people to take of the many elderly who are sick.

According to U.S. Census Bureau data, more than 61 million Americans are now over the age of 65, representing nearly 18% of the U.S. total population. By 2034, seniors will outnumber children in the U.S. for the first time in history. “We are facing a demographic tsunami,” said Allport. “This is not a problem for tomorrow - it’s already here. Families must have frank conversations and financial strategies in place for long-term care.”

Long-Term Care Costs Are Rising annually

A recent survey by Genworth Financial found that the median annual cost of Long Term Care ranges from $80,000 to $130,000, depending on services and location. By 2034, these costs are projected to reach between $102,000 and $170,000. “Even the affluent cannot underestimate the financial strain of Elder Care,” Allport emphasized.

“Relying solely on Medicare is a dangerous misconception, as Medicare does not cover most chronic Long-Term or Home Care needs. Planning ahead is not optional. Planning for one's Long Term Care is essential, because everyone will age. One's level of care will determine much of how well they age, and where they age.”

Caregiver Shortage Intensifies the Challenge

Compounding the financial burden is a worsening shortage of professional caregivers. The Boston College Center for Retirement Research reports that immigrants make up 28% of the U.S. Long-Term Care workforce, yet many are leaving due to immigration pressures and low wages. “We simply do not have enough caregivers to meet the demand,” Allport noted. “This is a national crisis that affects every family. Aging affects everyone.”

Grown children with Senior parents understand the challenge : Managing their own lives while also being called upon to help their parents.

What Families Can Do Now

• Start the Conversation Early: Families should openly discuss Long-Term Care needs, ideally by age 75, while parents are still healthy enough to make
sound decisions about Long Term Care.
• Establish Financial Reserves: Set aside funds specifically for Long-Term Care. Consider LTC Insurance or other strategies to offset rising costs.
• Explore Housing Options: Downsizing, moving closer to family, or transitioning to communities with care options can reduce future costa and stress.
• Protect Against Isolation: Loneliness increases health risks; seniors should plan to remain socially connected.


Advisors Must Lead the Dialogue

“As Fiduciaries, we cannot ignore this issue,” Allport said. “ Seniors need to have a conversation about Long-Term Care. Without a plan, families risk financial ruin and emotional distress. Advisors must step up and guide people with direction and compassion.”

About Fraser Allport

Fraser Allport, Accredited Investment Fiduciary^® and Certified Estate Planner™, has been helping individuals and families for 43 years. Based in Daytona Beach, Florida, his firm The Total Advisor, LLC specializes in holistic Retirement, Estate, and Tax Planning, as well as Social Security, Medicare, and Long-Term Care solutions. As a Fiduciary, Fraser Allport is committed to Fiduciary Standards : Best Interests, and Duty of Loyalty and Care.

For more information about Long Term Care, schedule a Complimentary Consultation with Fraser Allport at www.calendly.com/fiduciaryadvisor, or visit www.fraserallport.com.

Media Contact:
The Total Advisor, LLC
Fraser Allport, Fiduciary
Phone: (386) 882-6256
Email: retirement@fraserallport.com
Website: www.fraserallport.com

Sources and Attribution :

https://ihpi.umich.edu/national-poll-healthy-aging/reports-and-resources/long-term-care-are-older-adults-ready
https://www.longtermcarepoll.org/are-older-adults-financially-prepared-for-long-term-care/
https://www.kunc.org/news/2024-06-01/few-people-are-prepared-to-cover-long-term-health-care-costs
https://www.ncoa.org/article/when-should-you-start-investing-in-long-term-care-insurance/
https://www.kff.org/health-costs/the-affordability-of-long-term-care-and-support-services/
https://pmc.ncbi.nlm.nih.gov/articles/PMC9495472/
https://www.aarp.org/caregiving/financial-legal/planning-for-long-term-care/
https://www.aarp.org/caregiving/financial-legal/planning-for-long-term-care/
https://www.longtermcarelink.net/eldercare/why_long_term_care_planning.htm
https://journalofethics.ama-assn.org/article/strains-and-drains-long-term-care/2008-06
https://time.com/5529152/elderly-caregiving-baby-boomers-unpaid-caregivers-crisis/
https://thestatement.bokf.com/articles/2025/09/who-will-care-for-aging-baby-boomers
https://www.care.com/c/who-will-care-for-baby-boomers/
https://investor.genworth.com/news-events/press-releases/detail/982/genworth-and-carescout-release-cost-of-care-survey-results

Fraser L Allport
The Total Advisor, LLC
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